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EMAS Offshore reported a multiple-fold surge in net profit to US$158.1m for the 6 months ended 28 Feb-15, despite a 9.5% decline in revenue to US$133.6m. The better earnings were mainly attributable to a bargain purchase arising from its reverse takeover that resulted in goodwill amounting to US$142.2m. For 2Q15, turnover fell 9.9% to US$60.9m but net profit more than doubled to US$9.7m, underpinned by foreign exchange gains and gain on disposal of an anchor handling tug.

Ezra Holdings’ net profit spiked down 99.3% to US$138,000 for the second quarter ended 28 Feb-15 despite flattish revenue, dragged down by a drop in shares of profit of associated companies, after consolidation of EMAS Offshore (together with its subsidiaries), as subsidiaries of the group. For the 6-month period, revenue fell 2.7% while earnings more than doubled, due to one-off gain on bargain purchase from the acquisition of subsidiaries of US$106.3m.

Japfa announced that its Indonesia listed subsidiary, PT Japfa Comfeed Indonesia, has acquired 70% of the issued share capital of PT Multi Makanan Permai (MMP). MMP is in the business of trading of animal feed raw materials, a market segment that has not been tapped by PT Japfa. The acquisition hence provides PT Japfa with the opportunity to expand its customer portfolio, with the purchase price standing at IDR483m, financed by internal resources.

Ntegrator International has been awarded a $25.6m contract from a local provider of fibre infrastructure to supply services for the installation, operation and maintenance of the Next Generation Nationwide Broadband Fibre Network (Next Gen NBN) in Singapore. The 3-year service contract is slated for completion by 29 Mar-18 and is expected to contribute positively to the financial performance for FY15 to FY18. With a total of 8 contracts bagged year-to-date, the firm’s contract wins stands at approximately $50.8m.

Singapore Telecommunication (Singtel) has acquired a 98% equity interest in US-based Trustwave Holdings. The deal is valued at approximately US$810m, subjected to working capital adjustments at closing and is expected to be completed within 6 months. The acquisition will allow Singtel to expand its existing portfolio of cloud based solutions while leveraging on Trustwave’s threat intelligence, technology and talent to meet the growing demand for always-on managed security services in North America and the Asia Pacific region.

TEE Land saw a 5.5% drop in revenue to $29.9m for the 9 months ended 28 Feb-15, as revenue was recognised for 3 development projects in the corresponding period last year, as compared to 1 in the current period. However, gross profit was 17.5% higher, driven by development projects with better margins. Consequently, earnings grew 11% to $6.3m. For 3Q15, revenue fell 46.6% to $8.4m while earnings dropped 65.6% to $1.2m led by higher administrative expenses on top of the revenue fall.

Trek 2000 International has secured a second contract with Rely/Mattel China to supply proprietary Wi-Fi memory modules for smart devices, worth US$50m. The contract is expected to have positive financial impact for FY15 and will help maintain the firm’s growth momentum from FY14.

Triyards Holdings recorded a 28.4% drop in revenue for the 6 months ended 28 Feb-15, mainly due to the completion of several projects that has already been recognised, while newer projects are still in the inception stage. Despite lower sales, gross margin improved 6.8 percentage points to 22.7%, attributable to higher margin from an offshore fabrication project. However, the expansion in administrative expenses pulled earnings down by 11.6% to US$13.3m.

Armed with a bachelor in mathematics, Jia Hui keeps close tabs on the oil & gas, and manufacturing sectors in Singapore.

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